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Things That Can And Can’t Be Controlled During Financial Troubles

Posted by Joe Wallace on Apr 16th, 2020 · 0 Comment

Financial troubles are common, even when there is no global coronavirus emergency to contend with. There are plenty of things that can and can’t be controlled during financial troubles. While that is the most obvious statement in the history of writing about such things, some of your options in each of these areas may not be so obvious. Do you know how to take advantage of the things you can control...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Things That Can And Can’t Be Controlled During Financial Troubles

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